George deposited $2,000 in his bank account, which offers 5 percent compound interest calculated annually. what would be the principal amount available in george's account at the end of two years?

This can be solve by using the formula

F = p (1 + r) ^n

Where f is the future worth of the money

P is the initial amount of money

R is the annual interest rate

N is the numner of years

F = 2000 (1 + 0.05) ^2

F = $2,205